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Enhancing cooperation with Canada in the energy sector discussed
2020-10-06 | Economics
Uzbekistan Ambassador to Canada, with his residence in Washington, Javlon Vakhabov, has held virtual talks with the Director and Chairman of Condor Petroleum, Dennis Balderston, and the company’s President and CEO, Don Streu.
The Ambassador spoke about the essence and content of the reforms being carried out in the country aimed at creating an attractive investment climate and a prosperous business environment.
Dennis Balderston noted that the potential of Uzbekistan in the oil and gas sector is very high. There are great opportunities to increase natural gas production. He stated that his company plans to discuss the opportunities for investment cooperation in this area.
Dennis Balderston also noted that Condor Petroleum is ready to invest over $1 billion in the economy of Uzbekistan through its own capital investments and expenses for production operations, as well as introduce modern equipment and technologies in this industry. In addition, the company intends to create Canadian vocational schools in Uzbekistan in various specialties to train local personnel, as well as invest in social projects.
Don Streu emphasized that the company will significantly increase the production and reserves of natural gas in Uzbekistan through the use of innovative solutions and modern Western technologies.
In general, according to the Embassy, the Canadian side is interested in developing cooperation with Uzbekistan to expand geological exploration, increase natural gas production and is ready to take an active part in the implementation of promising investment projects in the country.
Source: UzA
